iWorld
Xiaomi and Travelxp partner to bring 4K HDR travel content to its TV homes
Mumbai: Xiaomi PatchWall users can now enjoy content from the travel channel, Travelxp, as the 4K HDR content provider has signed onto the PatchWall interface and will distribute over 1000+ hours of travel content through its PatchWall integration.
Xiaomi’s users will have access to Travelxp’s global travel content library through the PatchWall launcher on their Xiaomi smart TV sets. They will be able to discover Travelxp’s content programming from Xiaomi’s curated discovery platform PatchWall, and watch popular food shows like Strictly Street and Thali, to global destination features such as Backpack Thailand and Boarding Pass Finland.
Xiaomi sold over seven million TVs in the last three years leading up to September 2021. Since the launch of PatchWall in 2019, the company has also made it easier for its users to discover content from over 30+ OTT platforms in India.
Xiaomi India category lead- TVs Eshwar Nilakantan said, “With the OTT market going strong and the relationship between consumers and services constantly evolving, we at Xiaomi India are focused on making content discovery easier for our customers. With Xiaomi and Redmi TVs, our vision is to provide a unique interface for each user and offer a wide selection with our dedicated focus on building PatchWall. By partnering with Travelxp, we are excited to bring a wide variety of 4K travel content to PatchWall users.”
Travelxp launched the world’s first 4K HDR Travel OTT through Travelxp RED, which is designed as the one-stop-shop for frequent travelers. “With Xiaomi’s push into 4K televisions, our content availability through PatchWall is a huge boost to our ambition of showcasing travel in 4K HDR to the Indian market, and we are excited to announce that at launch, we will be multi-lingual with our entire content library dubbed in Hindi, Tamil and Bengali.” said Travelxp CEO Tanay Chothani.
As the OTT market in India expands to over 1000+ billion dollars, this integration is a further shot in the arm for India’s growing video streaming space. The service is available at a subscription price of Rs. 999/year.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
